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☆ A plane passenger's bathroom break turned into a nightmare when he got stuck inside — and cabin crew couldn't get him out
▼ + stars: | 2024-01-17 | by ( Monica Humphries | ) www.businessinsider.com time to read: +2 min

A passenger on a SpiceJet flight from Mumbai to Bengaluru, India, was locked in the plane bathroom. AdvertisementA bathroom break on a flight turned into a nightmare for one passenger who got stuck in the plane's restroom for the majority of his flight, the BBC reported. On Tuesday, a SpiceJet flight left Mumbai for Bengaluru, India. According to the BBC, the passenger could not exit the restroom and was stuck inside for about an hour of the one-hour-and-45-minute flight. AdvertisementSpiceJet cabin crew realized the passenger was stuck after the "man's distress calls," the BBC reported.

Persons: —, @iam_amangulati Organizations: Service, BBC, Independent, New Delhi Television Locations: Mumbai, Bengaluru, India

☆ Passenger trains derail in India, killing at least 50, trapping many others
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: +3 min

Rescuers work at the site of passenger trains that derailed in Balasore district, in the eastern Indian state of Orissa, Friday, June 2, 2023. Two passenger trains derailed Friday in India, killing at least 50 people and trapping hundreds of others inside more than a dozen damaged rail cars, officials said. The debris was hit by another passenger train coming from the opposite direction, and up to three coaches of the second train also derailed, Sharma said. In August 1995, two trains collided near New Delhi, killing 358 people in the worst train accident in India's history. More than 12 million people ride 14,000 trains across India every day, traveling on 64,000 kilometers (40,000 miles) of track.

Persons: Amitabh Sharma, Sharma, Kaleda, Dattatraya Bhausaheb Shinde, Pradeep Jena, Shinde, Narendra Modi, Modi Organizations: The Press Trust of India, New Delhi Television, Press Trust, Rescuers, The Press Trust, Indian Locations: Balasore district, Orissa, India, Kolkata, Balasore, Howrah, West Bengal, Chennai, Tamil Nadu, New Delhi

☆ Adani-owned NDTV profit plunges about 98% on weak advertising demand
▼ + stars: | 2023-05-01 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, May 1 (Reuters) - Indian broadcaster New Delhi Television Ltd (NDTV) (NDTV.NS), part of the embattled Adani Group, posted a 97.6% plunge in quarterly profit on Monday due to weak advertising demand. NDTV reported a consolidated net profit of 5.9 million rupees ($72,206.58) for the quarter ended March 31, compared with 241.6 million rupees a year earlier. Revenue from operations fell 35.5% to 669.6 million rupees due to a "slowdown in global advertisement spend," the media company said. Ports-to-energy conglomerate Adani Group holds an about 64.7% stake in NDTV through RRPR Holding and Vishvapradhan Commercial after a contentious battle last year. Last month, rival TV18 Broadcast Ltd (TVEB.NS), owned by Reliance Industries Ltd (RELI.NS), also reported a slump in quarterly profit, citing lower-than-expected advertising revenue.

☆ India's NDTV says president, other senior execs resign
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

NDTV's chief strategy officer, Arijit Chatterjee, and chief technology and product officer, Kawaljit Singh Bedi, also quit, resignations that come after founders Prannoy Roy and Radhika Roy left the company's board in December. NDTV made several failed attempts to block the takeover, citing regulatory restrictions on moving shares. The ports-to-energy conglomerate's takeover had stoked fears over the freedom of the press among some journalists and led to Ravish Kumar, a senior executive editor at NDTV, resigning soon after Adani acquired its stake. While announcing the latest set of resignations, NDTV, in a regulatory filing, said, "The company is in the process of putting up a new leadership team which will set a fresh strategic direction and goals for the company." (This story has been refiled to correct the typographical error in the fourth paragraph)Reporting by Chris Thomas in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Adani lifts payout for NDTV open offer to match payment to founders
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Jan 3 (Reuters) - Adani Enterprises (ADEL.NS) said on Tuesday it will raise the amount it pays New Delhi Television Ltd (NDTV.NS) stockholders who tendered their shares in the conglomerate's open offer to match what it paid the news broadcaster's founders for their stake. Adani Enterprises said it will pay an additional 48.65 rupees per NDTV share to investors who sold their shares in an open offer between Nov. 22 and Dec 5, taking the payout to 342.65 rupees per share and matching what it paid NDTV founders Radhika and Prannoy Roy. About 5.3 million shares were tendered in the open offer, at 294 rupees per share, and Indian billionaire Gautam Adani now controls about 65% of NDTV after acquiring a 27.26% stake from the Roys last week, four months after launching his takeover. Founded in 1988 and owned by the husband-and-wife team, NDTV had said the takeover move "was executed without any input from, conversation with, or consent of the NDTV founders". Still, the founders sold a majority of their shares and retained only a 5% stake.

☆ NDTV founders resign from board after India's Adani takes control
▼ + stars: | 2022-12-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] A microphone of New Delhi Television (NDTV) is placed on a tripod along a roadside in New Delhi, India, August 26, 2022. REUTERS/Adnan Abidi/File PhotoNEW DELHI, Dec 30 (Reuters) - India's New Delhi Television Ltd (NDTV.NS) said on Friday its founders Prannoy Roy and Radhika Roy had resigned as directors after billionaire Gautam Adani's conglomerate took majority control of the media company. Adani Enterprises Ltd (ADEL.NS), through subsidiaries RRPR Holding and Vishvapradhan Commercial, now owns 64.72% of NDTV, which runs three national channels. There are no other material reasons for my resignation," Prannoy Roy, one of India's best-known journalists, said in his letter to the company resigning as executive co-chairperson. Adani Group would "strengthen and invest in the NDTV newsroom to be a multi-faceted multi-media digital platform", the statement added.

☆ Indian tycoon Adani says Adani Group is financially strong- India Today
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: +1 min

Dec 29 (Reuters) - Indian billionaire Gautam Adani said his conglomerate Adani Group is "financially very strong and secure," while addressing concerns about the company's debt, in an interview to news channel India Today on Wednesday. Adani said that people raising "noises" about Adani Group's debt have not done a deep dive into its financials and also have a "vested interest" to tarnish the reputation of the group. The tycoon recently took a major shareholding control in New Delhi Television Ltd (NDTV.NS) through his media entity AMG Media Network, raising fears that the media company might lose its editorial independence. Adani said, "NDTV will be a credible, independent, global network" with clear boundaries between management and editorial. Reporting by Rahat Sandhu and Akanksha Khushi in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares snap four-day losing run in low-volume session
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 26 (Reuters) - Indian shares rose for the first time in five days in a low-volume session on Monday, with the rebound helped by mixed U.S. data that bolstered bets of smaller interest rate hikes by the Federal Reserve. The Nifty 50 index (.NSEI) was up 1.08% at 17,999.85 by midday, and the S&P BSE Sensex (.BSESN) gained 1.08% to 60,494.09. The Nifty fell 3.3% in the previous four sessions and dropped below the psychologically key 18,0000 mark on Friday. Banking stocks also rose with (.NSEBANK) and (.NIFTYPSU) rising over 1% and 3% respectively. Index heavyweight Larsen and Toubro (LART.NS) advanced 1.95% after bagging orders worth 10 billion rupees and 25 billion rupees.

☆ India's NDTV shares rise as founders plan to sell stake to Adani
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +2 min

After the deal, the Indian conglomerate, led by billionaire Gautam Adani, will control 64.71% of NDTV, while the founders will retain a combined 5%. Over the last four quarters, the broadcaster raked in revenues in the range of 900 million rupees ($10.88 million) to 1.20 billion rupees. In comparison, rival TV18 Broadcast Ltd (TVEB.NS) has amassed revenues in the range of 12.7 billion rupees to 15.7 billion rupees. Both NDTV and TV18 had flagged reducing ad revenues in the September quarter. Shares of NDTV were last up 2.4% at 348.70 rupees, which was at a discount to the 368.43 rupees per share at which the Roys sold their stake.

☆ Billionaire Adani to control nearly 65% of NDTV as founders sell stake
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +3 min

The husband-and-wife team will sell a 27.26% stake in NDTV to Adani-owned entity AMG Media Network and retain a combined 5%, regulatory filings by NDTV showed on Friday. "The AMG Media Network, after the recent open offer, is now the single largest shareholder in NDTV. Consequently, with mutual agreement we have decided to divest most of our shares in NDTV to the AMG Media Network," the founders said in a statement. Ravish Kumar, a senior executive editor of NDTV, resigned soon after Adani acquired the entity backed by NDTV's founders. Founded in 1988 and owned by the husband-and-wife team, NDTV had previously said that the move by Adani "was executed without any input from, conversation with, or consent of the NDTV founders".

☆ Billionaire Adani becomes NDTV's biggest shareholder after open offer
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 5 (Reuters) - Indian billionaire Gautam Adani's conglomerate on Monday raised its stake in New Delhi Television Ltd (NDTV.NS) to more than 37% through an open offer, making it the biggest shareholder of one of the country's most popular news networks. Although Adani's group was looking to take another 26% stake in NDTV, the open offer attracted bids for just 5.3 million shares, translating to an 8.3% interest in the company. Last week, Adani acquired a stake of about 29.2% in NDTV by buying a company backed by the television network's founders, Radhika Roy and Prannoy Roy, who have a 32.3% stake in NDTV. In the open offer that concluded Monday, corporate investors tendered 3.9 million shares, while retail investors offered to sell over 706,000 shares. Adani had offered to buy NDTV shares at 294 rupees in the open offer, which represents a 25% discount to Monday's closing price.

☆ India's NDTV says Prannoy, Radhika Roy resigned as directors of promoter group
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

Nov 29 (Reuters) - New Delhi Television Ltd (NDTV.NS) said late on Tuesday founders Radhika Roy and Prannoy Roy had resigned as directors on the board of the promoter group vehicle RRPR Holding Private Ltd. The resignation comes a day after NDTV said an entity backed by the founders had issued shares to a unit of Adani Group, taking the billionaire Gautam Adani-led conglomerate a step closer to taking over the media firm. NDTV, founded in 1988 and owned by husband-and-wife team Prannoy Roy and Radhika Roy, had previously said the takeover move "was executed without any input from, conversation with, or consent of the NDTV founders". The promoter group vehicle, which owns 29.2% and is the largest shareholder of NDTV, approved the appointment of Sudipta Bhattacharya, Senthil Sinniah Chengalvarayan, Sanjay Pugalia as directors on its board, NDTV said in a regulatory filing. Reporting by Kanjyik Ghosh and Akriti Sharma in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Adani closes in on India's NDTV takeover as founder entity transfers shares
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

The transfer of shares will give Adani control over a 29.18% stake in the news group. Adani is also conducting an open offer running between Nov. 22 and Dec. 5 for a 26% stake in NDTV. read moreThe open offer drew bids for 5.3 million shares as of Monday's close, or around 32% the 16.8 million shares on offer, exchange data showed. More than a decade ago, NDTV founders Radhika and Prannoy Roy took a 4 billion Indian rupee ($49.00 million) loan from a company that Adani acquired in August. NDTV said the entity backed by its founders issued shares after the market regulator's restrictions on its founders expired on Nov. 26.

☆ Takeover of NDTV a 'responsibility', says India's richest man Adani - FT
▼ + stars: | 2022-11-25 | by ( ) www.reuters.com time to read: +2 min

The ports-to-energy conglomerate run by Adani, Asia's richest person, unveiled plans late in August to acquire a majority stake in NDTV, seen as a bastion of independent media. Founded in 1988 and owned by husband-and-wife team Prannoy Roy and Radhika Roy, NDTV previously said that the move by Adani Group "was executed without any input from, conversation with, or consent of the NDTV founders". "Independence means if government has done something wrong, you say it's wrong," Adani said in the FT interview. Adani added that he has invited NDTV's owner-founder Prannoy Roy to remain as chair when the acquisition is completed. NDTV's business rivals include Times Group's Times Now and Network18's CNN-News18, controlled by Indian billionaire Mukesh Ambani.

☆ Indian billionaire Gautam Adani was a college dropout. Now he may be too big to fail
▼ + stars: | 2022-10-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +11 min

Indian billionaire Gautam Adani’s conglomerate had just launched a hostile bid to take over an influential broadcaster in the capital. Rupak De Chowdhuri/ReutersMuch of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. Most of the companies in the Adani empire are held closely by the billionaire, his family and associated firms, including nearly 75% stakes in AEL, Adani Power, and Adani Transmissions. Yet, the Adani Group has continued to raise billions from Indian and foreign banks. CreditSights, a research firm owned by Fitch Group, in August published a report about Adani Group titled “Deeply Overleveraged” in which it expressed strong concerns.

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